USDJPY growing by 3 steps
In February-March of this year, the price showed a strong movement.
First it collapsed sharply.
Then it also rose sharply.
These are the consequences of the first wave of the pandemic.
After that, the price began to decline in the descending channel, which has been going on for more than six months.
During the fall, the price did not break through the channel borders nirazu: resistance and support.
In mid-November, it touched the resistance line (upper channel line) 105.635.
During the slow decline, the price approached the lower channel line.
I got into a small support-resistance zone 103.192.
Now I expect the price to be:
1 - will drop to support 102.307.
2 - will grow to the zone and fix on it 103.192
3 - will break through the zone and go to resistance.
target - 104.322.
--------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
First it collapsed sharply.
Then it also rose sharply.
These are the consequences of the first wave of the pandemic.
After that, the price began to decline in the descending channel, which has been going on for more than six months.
During the fall, the price did not break through the channel borders nirazu: resistance and support.
In mid-November, it touched the resistance line (upper channel line) 105.635.
During the slow decline, the price approached the lower channel line.
I got into a small support-resistance zone 103.192.
Now I expect the price to be:
1 - will drop to support 102.307.
2 - will grow to the zone and fix on it 103.192
3 - will break through the zone and go to resistance.
target - 104.322.
--------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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